Electric-truck maker Nikola nears bankruptcy filing, WSJ reports (updated)

Nikola

06/02/2025 21:29

(Adds details on law firm and background throughout)
       Feb 6 (Reuters) - Electric-truck maker Nikola  NKLA.O 
is nearing filing for a bankruptcy, the Wall Street Journal
reported on Thursday, citing people familiar with the matter.
    The Phoenix, Arizona-based company was working with law firm
Pillsbury Winthrop Shaw Pittman to explore options including a
sale or restructuring of the company in bankruptcy, according to
the report.
    Nikola has been struggling to raise funds and its cash
balance has dwindled as it continues to lose hundreds of
thousands of dollars for every unit sold.
    The company and the law firm did not immediately respond to
Reuters requests for comment.

 (Reporting by Akash Sriram in Bengaluru; Editing by Shilpi
Majumdar and Shounak Dasgupta)
 ((Akash.Sriram@thomsonreuters.com; On X as @HoodieOnVeshti;
+91-99017-77617))